FinTech and InsurTech Startups

1 Submit Your Ideas Online:

Online entries close on 28 February 2019. You can apply online and submit a video of no longer than 3 minutes explaining your business and including the following:

  • What your business is
  • How it will solve real fintech/insurtech challenges that Santam faces
  • Proof of your track record in the market

 

2 Shortlisting:

After all the submissions are received, 10 participants will be shortlisted based on the following criteria:

  • Applicability to Insurance: Does your startup align with or disrupt the insurance industry value chain? Does your startup focus on enhancing insurance capabilities using technology? Does your startup target enriched insurance business models? Does your startup utilise emerging technologies like, Blockchain, AI, Advanced analytics etc?
  • Originality/Competitiveness: Is the startup innovative? Will it enhance Santam’s product offering?
  • Time to market: How much time will it take to pilot and implement the product with Santam?
  • Proven Track Record: Do you have evidence of your ability to deliver commercial value to Santam?

Shortlisted participants will be prepared to pitch to a Santam panel of judges.

 

3 Selection

The shortlisted participants will pitch to a panel of Santam judges on 28 March 2019 at a showcase event where 5 finalists will be selected.

 

4 Engagement with Santam

The 5 finalists will be given the opportunity to engage with Santam to prove their business case as well as participate in LaunchLab programmes if needed.

 

5 Final Showcase and Pilot

The 5 finalists will again pitch to a Santam panel of judges and one winning startup will be chosen by Santam and receive R200,000 in seed funding to pilot with Santam.

Should Santam choose to invest, depending on the investment vehicle and business assessment, funding and contractual elements of the new business will be discussed. Please refer to the participation terms and conditions for further info.